WAIHI EXTENDED.

Auckland Star, Volume XXVII, Issue 273, 17 November 1896, Page 5

WAIHI EXTENDED.

In the Free Exchange Rooms, Queenabreot, yesterday afternoon, an extraordinary general meetins of eharaholders in the Waihi Extended Goldcaining Company w»3 held, tfie Chairman of Directors, Mr A. Wright, presiding. Soma fifty shareholders wera present. The Chairman stated that the meeting had been called to determine in what way the mine should be worked. A difference existed between the directors as to the advisability ot sinking a new shaft with the object of cutting the i\jartba roef. Two directors, himself and MrCorbett, were in,favour of working till the drive from the Grand Junction shaft towards the Waihi Extended boundary gave some indication as to whether the Waihi reefs would enter the ground of the Company and at what part of the boundary. The other three were in favour of sinking a fihalt at onco. After the conclueion of tha Cbkirman'« remark*', which were at time* interrupted, proceedings continued somevfbat lively. Mr Hanchard wished to know what had been done with the £2,000 which h« understood had been in hand. The Secretary read a statement showing how the balance had been expanded since July, which showed that there was a debit balance, and whether operations were prosecuted actively or not a call would be necessary. Mr Hanchard expreesed himself dissatisfied with the way in which the Company's money had been spent. He thought a committee of inquiry should be appointed. In reply to Mr Wbitehead, who wished to know why the shaft sunk had been abandoned, the Chairman stated that) tha indications bad nob been very satisfactory, and tke person who had a residence site there (that is, the surface rights) unknown to the Company when machinery had been purchased for pumping Baked £170 compensation to allow its erection, and the directors did nofc deem it worth it, the shaft only being a prospecting one. Heated words passed between

Boms of those preaenl: as to who had authorised tho sinking of the shaft. Mr Corbett stated that as far as he knew the shaft had noS been sunk by the authority of tbe directors, the first intimation being from Mr Quinn, tho mine manager, stating that ha had commenced the work, i Soms considerable discussion followed as to whether a shaft should be eu»k or pros- \ pectiag work continued till the reef was ! cut in tha Grand Junction ground, hit \ Corbett explained that the linking of a shaft on a survey of the coarse of the reel i would nob only be very expensive, bufe! might prove useless. Mr J. Buckiand felt Bhat as there S6eined to be a split among the directors ihe shareholders could not j have much confidence in them, and he rose j to move thai new directors bo appointed, i He was, however, ruled oub of order, and after some further animated, end at times personal, discussion, Mr J. Duder moved, " That protection bo appiied foi for cix months with a view of awaiting further developments in the Waihi Grand Junction." Mr Wbitehead moved as an amendment "That the ground be worked byashafb under tbe supervision of one of our ablest mining engineers, who shall not be interested in the Company.' A division was taken. Tho amsuciinont was declared loat, and the motion was carried.